(4 minutes read)
· Africa Oil & Power, the African Energy Chamber and the U.S.-Angola Chamber of Commerce organized a webinar on ‘Pathway to Grid Stability in Angola to discuss how Angola can increase electrification, job creation and economic growth
· Power demand in Angola will grow at a substantial rate, with the overall system load reaching 7,200 MW – more than four times the current level.
Africa Oil & Power, the African Energy Chamber and the U.S.-Angola Chamber of Commerce organized a webinar on ‘Pathway to Grid Stability in Angola to discuss how Angola can increase electrification, job creation and economic growth. The webinar was hosted by Africa Oil & Power (AOP), the African Energy Chamber and the U.S.- Angola Chamber of Commerce.
The webinar assessed that until 2025, power demand in Angola will grow at a substantial rate, with the overall system load reaching 7,200 MW – more than four times the current level. The estimate has been worked out based on the degree of industrialization that would happen in the country in five years from now
Industry accounts for just 9% of energy demand. At the same time, energy-intensive activities, such as mining and iron ore exploration will serve as key drivers of growth in future , pushing the demand by 25percent by 2025, experts who participated at the virtual meeting observed.
The Government of Angola is expected to invest US$23 billion as part of the Angola Energy 2025 strategy. The government sources said that the energy security necessitates participation of the private sector in a meaningful manner to augment power generation. The government has spent significant resources for improving access to affordable and reliable power for both urban and rural communities as reflected in the Angola Energy 2025 Vision supported by renewables and private sector investment.
The Ministry’s plan for electrification aims to go from 38% to around 60% by 2025. It also aims to go from around less than 3 gigawatts (GW) of installed generation to approximately 9 GW by the end of the same period. The country is eager to attract private sector investment into its most bankable power projects, specifically in distribution to end users. Angola, like many other oil producing African countries, is dependent on crude oil exports to make up the majority of government revenues. The government is providing affordable power to its citizens. It is also committed to attract capital inflows during the current period of reduced final investment
decisions.
